[Federal Register: October 20, 1998 (Volume 63, Number 202)]
[Notices]               
[Page 56033-56034]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr20oc98-95]

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FEDERAL RESERVE SYSTEM

 
Formations of, Acquisitions by, and Mergers of Bank Holding 
Companies

    The companies listed in this notice have applied to the Board for 
approval, pursuant to the Bank Holding Company Act of 1956 (12 U.S.C. 
1841 et seq.) (BHC Act), Regulation Y (12 CFR Part 225), and all other 
applicable statutes and regulations to become a bank holding company 
and/or to acquire the assets or the ownership of, control of, or the 
power to vote shares of a bank or bank holding company and all of the 
banks and nonbanking companies owned by the bank holding company, 
including the companies listed below.
    The applications listed below, as well as other related filings 
required by the Board, are available for immediate inspection at the 
Federal Reserve Bank indicated. The application also will be available 
for inspection at the offices of the Board of Governors. Interested 
persons may express their views in writing on the standards enumerated 
in the BHC Act (12 U.S.C. 1842(c)). If the proposal also involves the 
acquisition of a nonbanking company, the review also includes whether 
the acquisition of the nonbanking company complies with the standards 
in section 4 of the BHC Act. Unless otherwise noted, nonbanking 
activities will be conducted throughout the United States.
    Unless otherwise noted, comments regarding each of these 
applications must be received at the Reserve Bank indicated or the 
offices of the Board of Governors not later than November 12, 1998.
    A. Federal Reserve Bank of Cleveland (Paul Kaboth, Banking 
Supervisor) 1455 East Sixth Street, Cleveland, Ohio 44101-2566:
    1. FirstMerit Corporation, Akron, Ohio; to acquire 100 percent of 
the voting shares of Signal Corp., Wooster, Ohio, and thereby 
indirectly acquire Signal Bank, N.A., Wooster, Ohio; Summit Bank, N.A., 
Akron, Ohio; and NC Interim National Bank, Wooster, Ohio (in formation, 
successor to First Federal Savings Bank, New Castle, Pennsylvania).
    In connection with this application, applicant also has applied to 
acquire First Federal Savings Bank of New Castle, New Castle, 
Pennsylvania, and thereby engage in permissible savings association 
activities, pursuant to Sec. 225.28(b)(4)(ii) of Regulation Y; Mobile 
Consultants, Inc., Alliance, Ohio, and thereby engage in brokering 
manufactured home loans to and on behalf of financial institutions and 
provides collection and recovery services on such loans, pursuant to 
Sec. 225.28(b)(1) and (b)(2) of Regulation Y; and Summit Banc 
Investments Corp., Fairlawn, Ohio (a registered broker-dealer with 
NASD), and thereby engage in acting as an investment advisor, pursuant 
to Sec. 225.28(b)(6) of Regulation Y.
    2. Salt Lick Bancorp, Inc., Salt Lick, Kentucky; to become a bank 
holding company by acquiring 100 percent of the voting shares of Salt 
Lick Deposit Bank, Salt Lick, Kentucky.
    B. Federal Reserve Bank of Minneapolis (JoAnne F. Lewellen, 
Assistant Vice President) 90 Hennepin Avenue, P.O. Box 291, 
Minneapolis, Minnesota 55480-0291:
    1. Citizens Bancorporation of New Ulm, Inc., New Ulm, Minnesota; to 
acquire at least 80 percent of the voting shares of State Bank of La 
Salle (Incorporated), La Salle, Minnesota.
    2. Palmer Bancshares, Inc., Kasson, Minnesota; to become a bank 
holding company by acquiring 100 percent of the voting shares of Kasson 
State Bank, Kasson, Minnesota.
    C. Federal Reserve Bank of Kansas City (D. Michael Manies, 
Assistant Vice President) 925 Grand Avenue, Kansas City, Missouri 
64198-0001:
    1. First Express of Nebraska, Inc., Gering, Nebraska; to acquire 
Wauneta Falls Bancorp, Inc., Wauneta, Nebraska; and thereby indirectly 
acquire Wauneta Falls Bank, N.A., Wauneta, Nebraska, and Ogallala 
National Bank, Ogallala, Nebraska.
    2. First National Bancshares, ESOP and 401K, Goodland, Kansas; to 
acquire

[[Page 56034]]

up to 50.1 percent of the voting shares of First National Bancshares, 
Inc., Goodland, Kansas; and thereby indirectly acquire First National 
Bank, Goodland, Kansas.

    Board of Governors of the Federal Reserve System, October 13, 
1998.
Robert deV. Frierson,
Associate Secretary of the Board.
[FR Doc. 98-28023 Filed 10-19-98; 8:45 am]
BILLING CODE 6210-01-F